(english translation)
The trade talks with the European Union on the “removal of barriers to trade” will resume after the US midterm elections in late November. Then there should be a plan for “finalizing results in a number of areas”. One reason for the economy to follow these elections closely.

In addition to Donald Trump’s threat of high tariffs on car imports, other markets are already suffering from increased tariffs on aluminum and steel imports, which the US President recently decided. Especially small and medium-sized companies can hardly handle rising costs due to the trade dispute.

Lucio Miranda is Founder and President of EXPORT USA. The company supports small and medium-sized European companies in exporting and selling to the US:

“If the elections for Trump are going well and the Trump government’s power is confirmed, the trade talks will also become easier, because the Trump administration no longer needs to flex its muscles to regain political credibility, and then it would be easier to reach an agreement on to achieve the trade tariffs. ”

Currently, the effects of steel tariffs are not yet so strongly felt. Although some companies that depend on foreign auto parts or foreign suppliers are experiencing rising costs, this has been offset by political support for steel and metal producers in the US. According to this economist, trade is only one of the politically sensitive issues. If Trump loses the midterm elections, it could make room for a quick deal with Europe:

“Trade deals are usually negotiated over years or decades, not months, and if the president loses in these midterm elections, it could be an opportunity for Europe to make a better deal in the next three months,” Professor Joseph Foudy, Department of Economics Stern School of Business New York University.

There are strong trade relations between the EU and the US. If the trade continues to escalate, it would threaten the markets and create more insecurity. Experts disagree on what would mean a victory for the Democrats in the midterm elections for trade:

“If the Democrats retake the House of Representatives and start impeachment proceedings, it will create more insecurity, if they can recapture the house and thereby limit the president’s activities around tariffs and sanctions, it will probably be a good thing, but the fact is that the House of Representatives does not make trade policy, the latter is in the hand of the Senate.” According to Yvonne Bendinger-Rothschild, European American Chamber of Commerce New York